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Hi,

 

i'm helping an elderly neighbour sort out their debts and they have a credit card in which they have had the interest frozen and are paying an agreed amount each month to reduce the balance, which was over initially over £1000 but its down to £700 now.

He is finding it difficult to keep up the payments now and they have advised him that the agreement he had with them to 'freeze' the interest is coming to an end and he will now have interest added to the outstanding balance, which will make it more difficult for him to keep up the payments. I was going to write to the bank and ask them to help out a bit longer and freeze the interest again but i noticed he got the credit card in 2005 when he was 75 years old. Now this might not seem odd to some but he was not working and had no income other than his state pension and i would have thought that it was a bit irresposible of the bank to give him a credit card because of his lack of income.

 

Doea anyone know if it is irresposible of a bank to do this and what can be done about it?

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I would be inclined maybe doing a sar to see what was put on his application. Can he remeber if he applied online or in a branch or leaflet?


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Thanks Ida,

 

he says he applied in the branch, or rather while he was in the branch he was advised that this would be a good card for him as he would never have to pay any interest, and simply given the card. He did use the card and does not dispute repaying it, it's only the fact that the interest is now no longer frozen and as he pays only £10 per month to the outstanding balance, £9.31 is being added as interest and the debt will never clear - or as he states given his age (81yrs), he will die before it is paid off!

 

Is it worth requesting a SAR and even a copy of the Agreement? I just think it was a bit silly of the bank to give someone in the 70's a Credit card knowing they only had a state pension as income.

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I agree.

 

obviously if had savings but why then get a cc?

 

be interesting to try and get the application to see what they have put in as earnings/incoming monies etc


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